Orkla India IPO Opens for Subscription on October 29 with Price Band of Rs 695-730

Orkla India's Initial Public Offering (IPO) is scheduled to open for public subscription starting October 29 and concluding on October 31, 2024. The company has fixed the price band for its shares at Rs 695 to Rs 730 per equity share. The total size of the issue is aimed at raising Rs 1,667.54 crore, which will be entirely through an offer for sale of 2.28 crore shares.

The Grey Market Premium (GMP) for the Orkla India IPO currently stands at 10.55%, suggesting strong investor interest. Tentatively, the allotment of shares is expected to be finalized on November 03, followed by the listing of the company's shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on November 06.

ICICI Securities is appointed as the book-running lead manager for this IPO, overseeing the issue's management and marketing. KFin Technologies will act as the registrar for the IPO, handling the administrative tasks related to applications and share allocation.

About Orkla India: Orkla India is a prominent Indian food company operating across multiple categories and has been in operation for several decades. It offers a wide range of products suitable for all meals and occasions, including breakfast, lunch, dinner, snacks, beverages, and desserts. Its well-known brands, such as MTR, Eastern Condiments, and Rasoi Magic, are deeply rooted in authenticity and the South Indian culinary heritage.

Impact: This IPO presents a significant investment opportunity for the public in a well-established food company. A successful IPO and subsequent listing could positively influence investor sentiment towards the food sector and other upcoming public offerings. The current GMP indicates a strong market reception, potentially leading to a robust stock debut. Rating: 8/10

Difficult terms: * IPO: Initial Public Offering. This is when a private company offers its shares to the public for the first time. * Subscription: The period during which investors can apply to buy shares in an IPO. * Price Band: The range set by the company within which investors can bid for shares during an IPO. * Offer for Sale (OFS): A type of IPO where existing shareholders sell their shares to new investors, rather than the company issuing new shares to raise capital. * Grey Market Premium (GMP): An unofficial indicator of demand for an IPO, representing the premium at which shares are traded in the grey market before official listing. * Book Running Lead Manager (BRLM): The investment bank(s) that manage the IPO process, advising the company and marketing the issue. * Registrar: The entity responsible for managing the IPO application process, including share allocation and refunds.